Aberdeen Group plc Decreases Position in Southern Company (The) $SO

Aberdeen Group plc decreased its holdings in Southern Company (The) (NYSE:SO) by 10.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,412 shares of the utilities provider’s stock after selling 51,496 shares during the quarter. Aberdeen Group plc’s holdings in Southern were worth $40,702,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in shares of Southern by 17.5% in the 1st quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider’s stock valued at $3,127,000 after purchasing an additional 5,067 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Southern by 1.7% in the second quarter. Nordea Investment Management AB now owns 65,349 shares of the utilities provider’s stock worth $5,958,000 after buying an additional 1,063 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in shares of Southern by 10.2% in the second quarter. Signature Estate & Investment Advisors LLC now owns 3,853 shares of the utilities provider’s stock worth $354,000 after buying an additional 357 shares during the last quarter. West Tower Group LLC acquired a new stake in shares of Southern during the second quarter worth $413,000. Finally, LMG Wealth Partners LLC grew its holdings in shares of Southern by 5.9% during the second quarter. LMG Wealth Partners LLC now owns 20,865 shares of the utilities provider’s stock valued at $1,916,000 after buying an additional 1,165 shares during the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $105.00 price target on shares of Southern in a research report on Friday, January 23rd. Mizuho reduced their price objective on Southern from $97.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, December 11th. Jefferies Financial Group dropped their target price on Southern from $104.00 to $93.00 and set a “neutral” rating on the stock in a research report on Monday, December 15th. UBS Group cut their price target on shares of Southern from $98.00 to $94.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Finally, Wells Fargo & Company downgraded shares of Southern from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $97.00 to $84.00 in a report on Tuesday, January 20th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.91.

Southern Trading Up 2.6%

SO stock opened at $94.93 on Tuesday. Southern Company has a 52-week low of $83.09 and a 52-week high of $100.83. The company has a quick ratio of 0.59, a current ratio of 0.75 and a debt-to-equity ratio of 1.69. The firm has a market cap of $104.53 billion, a P/E ratio of 23.50, a PEG ratio of 2.87 and a beta of 0.45. The company’s 50-day simple moving average is $88.09 and its 200-day simple moving average is $91.33.

Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be given a $0.74 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.1%. Southern’s payout ratio is 73.27%.

About Southern

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.